It’s an opportune time to serve the aging services industry. The first Baby Boomers began turning 65 in 2011, and will continue swelling the ranks of seniors — as well as nursing homes and assisted living centers — for decades to come.
In fact, the U.S. Census estimates that by 2050, there will be nearly twice as many people aged 65 and older as there were in 2012. The last of the Baby Boomers will then be over age 85.
The silver tsunami has implications for decision-makers in Washington and states throughout the country, as well as for families everywhere. But it also will affect the industry that must accommodate growing numbers of people who need housing to live out their remaining years.
Did you know that the population of seniors will become increasingly diverse, with a much greater share of Latinos? By 2050, demographers say, more than 18 percent of those 65 and older will be Latino, compared with 7.3 percent in 2012.
Take a look the Administration on Aging website for more interesting trends. And remember, we’re here to help you help your clients with tough-to-place risks. At SCI Underwriting Management, we provide much more than just insurance coverage. We help with risk management, helping to mitigate future risk. We have some of the most skilled and experienced claims handling experts in the country. And we offer premium financing to help with cash flow concerns. Get to know the SCI Underwriting difference.